Abstract Virtual Power Plants (VPPs) represent a novel concept towards flexible integration
of distributed energy resources (DERs) into the smart grid. VPPs will eventually help to
overcome the stochastic nature of DERs which will result in a more stable and smart power
grid. VPPs are constituted of an integration of heterogeneous systems, organizations and
entities which collaborate to ensure optimal generation, distribution, storage, and sale of
renewable energy in the energy market. By its composition, a VPP forms a kind of …